Baidu raises $1 billion in US-targeted bond

Baidu attracts $4 billion of orders within three hours amid robust US investor bid.

Baidu raises $1 billion in US-targeted bond

Baidu, a Chinese search engine, has returned to the US dollar market, raising $1 billion in the first sizeable dollar bond from a Chinese company during the past few months.

The SEC-registered deal was announced at 9pm Asia time on Tuesday and books were kept open for three hours, attracting $4 billion worth of orders within that time, with demand heavily driven by US investors.

Baidu did not hold a roadshow...

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